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Last Updated: Feb 6, 2017 - 2:32:04 PM |
One of the first and most important steps in the process of selling a home is choosing the right real estate agent to help you negotiate the transaction. Establishing a mutually beneficial relationship with the agent who is marketing your home is essential. However, many people who are anxious to get started choose a realtor without careful consideration. We have many very competent real estate agents in Grand Bahama Island and there are a lot to choose from. Here are some ways to make sure you find the right agent for you and avoid making common mistakes when selecting a real estate agent.
Don’t automatically choose the realtor who takes the lowest commission. Someone who is willing to take less of a percentage on the sale of your home may also give less to get it sold. A realtor who accepts a reduced commission may not put as much energy into the marketing of your property as a realtor who is earning a full commission. Selling a home requires out-of-pocket advertising expenses for realtors and time and energy. An agent who is working toward a full commission is more likely to be liberal in paying for advertising that covers a broader range of media and markets.
Don’t assume that every real estate agent is alike. Realtors vary widely in terms of experience and education It’s all right to ask for credentials, and to request references from some of the agent’s most recent clients. Don’t decide about the realtor’s professional competence merely on the basis of your instincts about human nature. Take note of the opinions and feelings of people who have worked with the agent on the sale or purchase of a property.
Don’t choose the realtor who quotes you the highest selling price for your home. Some agents will try to “buy the listing”, advising you to list the home at a somewhat inflated price and thus causing you to think that this realtor values the property more highly than other real estate agents. A home that is priced too high usually takes longer to sell, because the unrealistic asking price turns buyers toward comparable homes that are priced more reasonably. The agent is trying to get the listing, but is not doing you a favor in overpricing your home. Be wary of a realtor who quotes a listing price without touring your home or taking time to check the selling prices of comparable homes.
Don’t agree to work with the realtor simply because he or she is a personal friend or a member of the family. You may love Aunt Abigail, but what if she fails to sell your home? A family relationship or friendship may become strained or complicated if there are problems with the transaction.
Finally, don’t choose a real estate agent before you meet face-to-face and discuss the details of the sale. Look for the realtor who makes notes about the features of your home, asks you a lot of questions, listens carefully to your answers and then explains her marketing plan. Look for the realtor who inspires confidence and trust, and then don’t look back! Until next week.
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